| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 26th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 743 S Magnolia Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1975 |
| Units | 92 |
| Transaction Date | 2018-06-22 |
| Transaction Price | $17,900,000 |
| Buyer | Village Green 92 LP |
| Seller | --- |
743 S Magnolia Ave El Cajon Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, positioning this El Cajon asset for steady leasing fundamentals. Metrics cited reflect neighborhood conditions, not the specific property.
Located in El Cajon within the San Diego-Chula Vista-Carlsbad metro, the neighborhood posts very tight occupancy at the neighborhood level, ranking first out of 621 metro neighborhoods. That stability, measured for the neighborhood rather than the property, supports predictable leasing performance for well-managed multifamily assets.
Renter concentration is high, with a large share of housing units renter-occupied (nationally in the upper tail), indicating a deep tenant base and demand resilience for multifamily. Neighborhood NOI per unit trends are competitive among San Diego neighborhoods (top quartile locally and above average nationally), reinforcing the area’s ability to support operations for stabilized workforce housing.
Daily-needs access is a relative strength: grocery and pharmacy density rank near the top of the metro, while cafes and park space are limited, and restaurant density sits around the metro median. For investors, this mix suggests convenience-driven livability that supports retention, with fewer lifestyle amenities than core urban districts.
Within a 3-mile radius, demographics indicate a modest increase in population and a larger increase in households over the past five years, with projections calling for additional household growth. This points to a larger tenant base over time, which typically supports occupancy stability and leasing velocity. Elevated home values in the area reflect a high-cost ownership market relative to incomes, which tends to sustain reliance on rental housing and can support pricing power, while a higher rent-to-income ratio warrants thoughtful lease management and renewal strategies.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area sits below national safety norms; however, recent year-over-year declines in both property and violent offense rates suggest improving conditions. Within the San Diego metro, the neighborhood is competitive among peer neighborhoods (ranked in the stronger 40% of 621), though investors should continue to underwrite with conservative assumptions and active property-level security measures where appropriate.
Proximity to diversified employers supports a broad renter pool and commute convenience, with concentrations in aerospace/defense, food distribution, utilities, wireless, and biotech.
- L-3 Telemetry & RF Products — aerospace & defense electronics (10.36 miles)
- Sysco — food distribution (11.57 miles)
- Sempra Energy — utilities (12.62 miles) — HQ
- Qualcomm — wireless & semiconductors (15.56 miles) — HQ
- Celgene Corporation — biotech (16.05 miles)
This 92-unit property, built in 1975, sits in a neighborhood with top-ranked occupancy at the neighborhood level and a high share of renter-occupied housing units—factors that generally support stable tenant demand and steady leasing. Elevated ownership costs in the surrounding area reinforce renter reliance on multifamily housing, while neighborhood NOI-per-unit performance is competitive among San Diego peers. Based on CRE market data from WDSuite, these fundamentals compare favorably to metro and national trends for workforce-oriented product.
The 3-mile area shows modest population growth alongside a larger increase in households, with further household gains projected—pointing to a gradually expanding renter pool that can support occupancy and renewals. The 1975 vintage suggests planning for ongoing capital needs and selective value-add to enhance competitiveness versus newer stock. Key underwriting considerations include local affordability pressure (higher rent-to-income ratios) and prudent attention to neighborhood safety trends, which have recently improved but remain below national norms.
- Neighborhood-level occupancy ranks first among 621 metro neighborhoods, underscoring leasing stability for well-positioned assets.
- High renter-occupied share and a growing 3-mile household base support depth of tenant demand and retention.
- High-cost ownership market sustains rental demand and can support pricing power for renovated units.
- 1975 vintage offers value-add potential with targeted upgrades and systems planning to compete with newer supply.
- Risks: affordability pressure (higher rent-to-income) and below-national safety benchmarks warrant conservative underwriting and proactive management.